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Sunday, 22 September 2019
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Markets & companies, Coatings market

Indian decorative paint market to grow by 2015

Monday, 10 December 2012

The decorative paint market in India is anticipated to grow at a CAGR of more than 15 % during 2012-2015.

The rural sector has a major share of the decorative paints segment in India. Source: Frank Eckgold - Fotolia.com

The rural sector has a major share of the decorative paints segment in India. Source: Frank Eckgold - Fotolia.com

India's decorative paint market is growing at a healthy rate over the past few years. Demand from the real-estate has placed the Indian paint industry on a high growth trajectory. The thrust of the Indian Government on building up infrastructure also help the industry to grow economically. According to research company RNCOS’ recent report, "Indian Paint Industry Forecast to 2015", the decorative paint market in India is anticipated to grow at a CAGR of more than 15% during 2012-2015.

Disposable income plays a critical role in the decorative paint market. Thus, increase in people's income will help the industry to grow. Moreover, the rural sector has a major share of the decorative paints segment. Thus, any benefit to the rural sector for improving the dispensable income is directly co-related to the growth of the paint industry. Besides, decorative paints are marketing savvy products backed by large advertisement campaigns and dealership networks. Huge investments required in setting up a vast marketing and dealership network, to advertise and develop a brand over a period of time will also help the industry to reach new heights. The report provides a complete understanding of the paint market of India. It analyzes the market size of the total paint industry and its segments in terms of types, raw material, and product class.

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